SpaceX stock could rise 75% to $240, JPMorgan says

SpaceX stock has gained about 2% after JPMorgan retained its Overweight rating and $240 price target, implying roughly 75% upside from recent trading levels. Summary JPMorgan has retained its Overweight rating and $240 price target for SpaceX. The bank said Cursor data has produced tangible improvements in recent Grok models. About 370 million SpaceX shares could become tradable on Sept. 9 and 10. SpaceX completed its $60 billion stock-based acquisition of Cursor developer Anysphere on Aug. 14. SpaceX stock gets a $240 price target JPMorgan analyst Doug Anmuth has maintained an Overweight rating on SpaceX and a $240 price target, telling investors that the bank has become “increasingly positive” about the prospects for Grok following the Cursor acquisition. Based on SpaceX’s recent share price, the target indicates potential upside of about 75%. SPCX rose around 2% in Tuesday’s premarket session and traded near $138 during the regular session, compared with its previous close of $135. Anmuth said the completed purchase of Cursor represents an important step in the development of SpaceX’s enterprise artificial intelligence business. JPMorgan has already observed “tangible improvemen...